38.5 sen per share final pidend proposed
FY20 at a glance (Y-o-Y)
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Maybank, Southeast Asia’s fourth largest bank by assets, today said that it closed the financial year ended 31 December 2020 with a net profit of RM6.48 billion compared with RM8.20 billion a year earlier as the Group had to book in significantly higher net impairment losses owing to the continued impact from the COVID-19 pandemic, although this was partly offset by higher net operating income and reduced overhead expenses. Profit before tax (PBT) for the year dipped to RM8.66 billion from RM11.01 billion a year earlier.
Despite the challenging year, the Group recorded a stable net operating income which came in 0.1% higher at RM24.76 billion from a year earlier. This was attributable to a 12.3% year-on-year (Y-o-Y) increase in total net fee based income to RM8.11 billion, which came mainly on the back of higher net insurance and investment income as the Group also took the opportunity to realise selected one-off gains from the better returns available.